Hitherto there has been no plastic bag drying apparatus utilizing the unique concept employed by this invention. The only other U.S. patent awarded for a plastic bag drying rack is U.S. Pat. No. 3,295,694. This prior art requires a stand which also functions as a catchment tray and requires placement on a horizontal surface. Our invention, by contrast, has no stand, requires no catchment tray and can be suspended magnetically from vertical and overhanging horizontal surfaces.